House Clears Student Loan Bill

Bill, Which Links Interest Rates on Loans to Market Rates, Is Sent to Obama

By

Josh Mitchell

July 31, 2013 7:01 p.m. ET

WASHINGTON—The House voted overwhelmingly Wednesday to clear a bill that links interest rates on federal student loans to a market-based rate, ending a monthslong debate and sending the bill to the White House.

The House passed the bill by a vote of 392 to 31. The Senate passed the bill last week by an 81-18 vote. President Barack Obama, who lobbied for the legislation despite resistance from some liberal Democrats, is expected to...